Athletic Bilbao have announced they have an agreement for Real Zaragoza midfielder Ander Herrera.

The transfer was first reported last week, but neither club has been willing to confirm it until now.

"Real Zaragoza and Athletic Club had entered into an agreement for the transfer of the rights of Ander Herrera effective from July 1, 2011," a club statement said.

"For his part, the player has entered into a contract with Athletic club from the 2011-12 season until the 2015-16 season inclusive, with a buyout clause of 36million euros for the first three seasons and 40million euros for the last two."